South Dakota Investment Council Sells 5,482 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

South Dakota Investment Council cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 357,905 shares of the credit services provider's stock after selling 5,482 shares during the period. South Dakota Investment Council's holdings in PayPal were worth $23,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in PayPal in the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new stake in PayPal in the 4th quarter valued at about $27,000. Bernard Wealth Management Corp. bought a new stake in PayPal in the 4th quarter valued at about $34,000. Pinney & Scofield Inc. bought a new stake in PayPal during the 4th quarter worth approximately $35,000. Finally, Garde Capital Inc. bought a new stake in PayPal during the 1st quarter worth approximately $28,000. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PYPL. Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 price objective for the company in a report on Tuesday, June 24th. UBS Group cut their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird boosted their target price on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Monness Crespi & Hardt cut their target price on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Macquarie cut their target price on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PayPal presently has an average rating of "Hold" and an average target price of $83.13.

PayPal Trading Up 1.0%

Shares of NASDAQ:PYPL traded up $0.75 on Monday, reaching $74.92. 5,425,373 shares of the company traded hands, compared to its average volume of 10,862,998. The business's 50-day simple moving average is $72.75 and its 200 day simple moving average is $73.13. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The stock has a market capitalization of $72.86 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. During the same period last year, the firm earned $1.08 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock worth $863,028 over the last three months. Company insiders own 0.08% of the company's stock.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.